July 2015 – Personal Bankruptcy & Consumer Proposal Statistics

Canada – Personal bankruptcies were down 3.8% and consumer proposal filings were up 9.5% as compared to the 12-months ended July 31, 2014.

New Brunswick – Personal bankruptcies were up 2.8% and consumer proposal filings were up 15.3% as compared to the 12-months ended July 31, 2014.

May 2015 – Personal Bankruptcy & Consumer Proposal Statistics

Canada – Personal bankruptcies were down 5.3% and consumer proposal filings were up 9.2% as compared to the 12-months ended May 31, 2014.

New Brunswick – Personal bankruptcies were up 0.4% and consumer proposal filings were up 10.3% as compared to the 12-months ended May 31, 2014.

April 2015 – Personal Bankruptcy & Consumer Proposal Statistics

Canada – Personal bankruptcies were down 5% and consumer proposal filings were up 9% as compared to the 12-months ended April 30, 2014.

New Brunswick – Personal bankruptcies were up 2.2% and consumer proposal filings were up 8.6% as compared to the 12-months ended April 30, 2014.

How Are Secured Debts Treated In Personal Bankruptcy or a Consumer Proposal?

When an individual files personal bankruptcy or a consumer proposal these loans are not always impacted and the assets can usually be kept as long as the loan payments are current and continue to be made in accordance with the credit agreement.

Banking Fees – Are You Paying Too Much?

It’s important to find the best type of account and monthly plan to fit your lifestyle so you can start by reviewing your monthly bank statements to see the fees and service charges you have incurred in the past. This will provide the information you need to compare the types of accounts and plans that best suited to your usage.

Having the wrong plan or too many bank accounts can be costly, and you might be paying for unnecessary bank expenses than a plan that is tailored to your individual or family needs.

Can Creditors Collect Debts After Bankruptcy?

When you receive a discharge after completing your bankruptcy, it releases you from the debts you owed before your date of bankruptcy. Once you file personal bankruptcy, your creditors cannot legally collect on those debts.